Realisations and interest charges

Realisations charge

The government charge a levy on all realisations made in respect of administrations under the Bankruptcy Act 1966.  This levy is called the realisations charge.  The legislation covering this charge and the related interest charge is set out in the Bankruptcy (Estate Charges) Act 1997.  See the current and historical table of realisations charge rates below.

Period from

Period to

Applicable Rate

1 July 2015 Current 7%
1 July 2014 30 June 2015 6%
1 July 2013 30 June 2014 4.7%

1 July 2011

30 June 2013

4.4%

1 July 2010

30 June 2011

4%

1 July 2007

30 June 2010

3.5%

1 July 2006

30 June 2007

6%

1 November 1996

30 June 2006

8%

Interest charge

  • interest earned on money held in personal insolvency accounts, less allowable deductions, is payable to the Commonwealth
  • both interest and the realisations charge are payable to the Commonwealth on an annual basis
  • links to material discussing deductions and calculation of the realisations and interest charges are listed below.